Southern Heritage Bank Mortgage Rates, Fees & Info

Jonesville, LA

LEI: 549300684I276INJKK63

Tax ID: 72-0711760

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Bank Data

  • Branches
  • Income
  • Loan Types
  • Deposit Mix
  • Loan Performance
  • Assets
  • Business Loans

    • Review & Overview

    Southern Heritage Bank is a smaller bank specializing in Refi and Home Purchase loans. Southern Heritage Bank has a high proportion of conventional loans. Their top markets by origination volume include: Alexandria, Natchitoches, Ruidoso, Lafayette, and New Orleans among others. We have data for 9 markets. (Some data included below & more in-depth data is available with an active subscription.)

    Southern Heritage Bank has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    302

    Origination Dollar Volume (All Markets)

    $37,690,000

    Employee count

    101

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    ALEXANDRIA, LA (FHA|USDA|VA) 139 $23,775,000 $171,043 $0 0.00%
    Outside of Metro Areas 144 $11,230,000 $77,986 $0 0.00%
    Natchitoches, LA (FHA|USDA|VA) 7 $1,065,000 $152,143 $0 0.00%
    Ruidoso, NM (FHA|USDA|VA) 1 $495,000 $495,000 $0 0.00%
    LAFAYETTE, LA (FHA|USDA|VA) 1 $415,000 $415,000 $0 0.00%
    NEW ORLEANS-METAIRIE, LA (FHA|USDA|VA) 2 $220,000 $110,000 $0 0.00%
    Natchez, MS-LA (FHA|USDA|VA) 5 $205,000 $41,000 $0 0.00%
    MONROE, LA (FHA|USDA|VA) 1 $165,000 $165,000 $0 0.00%
    Ruston, LA (FHA|USDA|VA) 2 $120,000 $60,000 $0 0.00%
    Southern Heritage Bank's top markets include Alexandria, Natchitoches, Ruidoso, Lafayette, and New Orleans among others.

    Their top states include:
  • Louisiana (FHA|USDA|VA)
  • New Mexico (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 302 $37,690,000 $124,801 $0 0.00%

    For 2019, Southern Heritage Bank's most frequently originated type of loan was Conventional, with 302 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 114 $18,960,000 $166,316 $0 0.00%
    Home Purchase 113 $11,235,000 $99,425 $0 0.00%
    Cash Out Refi 49 $6,215,000 $126,837 $0 0.00%
    Home Improvement 17 $865,000 $50,882 $0 0.00%
    Other 9 $415,000 $46,111 $0 0.00%

    For 2019, Southern Heritage Bank's most frequently cited loan purpose was Refi, with 114 originations. The 2nd most popular reason was Home Purchase, with 113 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 302 $37,690,000 $124,801 $0 0.00%

    For 2019, Southern Heritage Bank's most frequently cited loan duration was Other, with 302 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 195 $9,355,000 $47,974 $0 0.00%
    $100k-200k 75 $10,495,000 $139,933 $0 0.00%
    $200k-400k 23 $5,525,000 $240,217 $0 0.00%
    $400k-600k 6 $2,930,000 $488,333 $0 0.00%
    $1MM+ 2 $8,590,000 $4,295,000 $0 0.00%
    $600k-1MM 1 $795,000 $795,000 $0 0.00%

    2019 saw Southern Heritage Bank place emphasis on $100,000 or less loans with 195 originations, totaling $9,355,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 49 $3,365,000 $68,673 $0 0.00%
    $50k or less 45 $2,515,000 $55,889 $0 0.00%
    $100k-150k 44 $4,480,000 $101,818 $0 0.00%
    $75k-100k 36 $2,590,000 $71,944 $0 0.00%
    $150k-250k 21 $2,545,000 $121,190 $0 0.00%
    $250k+ 15 $2,355,000 $157,000 $0 0.00%

    Southern Heritage Bank lent most frequently to those with incomes in the $50k-75k range, with 49 originations. The second most popular income band? $50k or less, with 45 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 302 $37,690,000 $124,801 $0 0.00%

    Southern Heritage Bank lent most frequently to those with DTI ratios of Exempt%, with 302 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 80 $18,730,000 $234,125 $0 0.00%
    White 202 $17,440,000 $86,337 $0 0.00%
    Asian 9 $855,000 $95,000 $0 0.00%
    Black 9 $425,000 $47,222 $0 0.00%
    Vietnamese 1 $205,000 $205,000 $0 0.00%
    American Indian 1 $35,000 $35,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.17%

    Southern Heritage Bank has an average approval rate.

    Pick Rate

    Approvals leading to origination
    83.11%

    Southern Heritage Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 302 $37,690,000 $124,801

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Manufactured 2 $190,000 $95,000
    Multifamily:Site-Built 13 $9,975,000 $767,308
    Single Family (1-4 Units):Manufactured 70 $5,130,000 $73,286
    Single Family (1-4 Units):Site-Built 217 $22,395,000 $103,203

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    SOUTHERN TRUST MORTGAGE LLC Conventional home mortgage Closing on a mortgage 1 50.0%
    SOUTHERN TRUST MORTGAGE LLC VA mortgage Applying for a mortgage or refinancing an existing mortgage 1 50.0%

    Bank Details

    Branches

    Bank Name Branch Branch Type Deposits (000's)
    Southern Heritage Bank 1409 Central Avenue Olla, LA 71465 Full Service B&M $32,091
    Southern Heritage Bank 2832 E Oak St. Jena, LA 71342 Full Service B&M $109,990
    Southern Heritage Bank 3596 Highway 28 East Pineville, LA 71361 Full Service B&M $14,613
    Southern Heritage Bank 4617 Monroe Highway Pineville, LA 71360 Full Service B&M $16,591
    Southern Heritage Bank 5211 Jackson Street Alexandria, LA 71303 Full Service B&M $28,138
    Southern Heritage Bank 5617 Coliseum Blvd Alexandria, LA 71303 Full Service B&M $9,148
    Southern Heritage Bank 701 4th Street Alexandria, LA 71301 Full Service B&M $1,357
    Southern Heritage Bank 9778 South Main Street Tullos, LA 71479 Full Service B&M $12,367
    Southern Heritage Bank Fourth And West Park Streets Jonesville, LA 71343 Full Service B&M $27,029
    Southern Heritage Bank State Highway 8 And Short Street Harrisonburg, LA 71340 Full Service B&M $10,784

    For 2019, Southern Heritage Bank had 10 branches.

    Yearly Performance Overview

    Bank Income

    Item Value (in 000's)
    Total interest income $15,199
    Net interest income $13,227
    Total noninterest income $2,400
    Gross Fiduciary activities income $0
    Service charges on deposit accounts $966
    Trading account gains and fees $0
    Additional Noninterest Income $1,434
    Pre-tax net operating income $4,774
    Securities gains (or losses, -) $29
    Income before extraordinary items $4,803
    Discontinued Operations (Extraordinary gains, net) $0
    Net income of bank and minority interests $4,803
    Minority interest net income $0
    Net income $4,803
    Sale, conversion, retirement of capital stock, net $0
    Net operating income $4,774

    Southern Heritage Bank's gross interest income from loans was $15,199,000.
    Southern Heritage Bank's net interest income from loans was $13,227,000.
    Southern Heritage Bank's fee based income from loans was $966,000.
    Southern Heritage Bank's net income from loans was $4,803,000.

    Bank Expenses

    Item Value (in 000's)
    Total interest expense $1,972
    Provision for credit losses $195
    Total noninterest expense $10,658
    Salaries and employee benefits $6,656
    Premises and equipment expense $1,005
    Additional noninterest expense $2,997
    Applicable income taxes $0
    Net charge-offs $230
    Cash dividends $4,435

    Southern Heritage Bank's interest expense for loans was $1,972,000.
    Southern Heritage Bank's payroll and benefits expense were $6,656,000.
    Southern Heritage Bank's property, plant and equipment expenses $1,005,000.

    Loan Performance

    Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
    All loans 0.0%
    Real Estate loans 0.0%
    Construction & Land Development loans 0.0%
    Nonfarm, nonresidential loans 0.0%
    Multifamily residential loans 0.0%
    1-4 family residential loans 1.0%
    HELOC loans 0.0%
    All other family 1.0%
    Commercial & industrial loans 2.0%
    Personal loans 0.0%
    Credit card loans 0.0%
    Other individual loans 0.0%
    Auto loans 0.0%
    Other consumer loans 0.0%
    Unsecured commercial real estate loans 0.0%

    Deposits

    Type Value (in 000's)
    Total deposits $268,307
    Deposits held in domestic offices $268,307
    Deposits by Individuals, partnerships, and corporations $220,821
    Deposits by U.S. Government $48
    Deposits by States and political subdivisions in the U.S. $47,438
    Deposits by Commercial banks and other depository institutions in U.S. $0
    Deposits by Banks in foreign countries $0
    Deposits by Foreign governments and official institutions $0
    Transaction accounts $129,752
    Demand deposits $70,068
    Nontransaction accounts $138,555
    Money market deposit accounts (MMDAs) $10,795
    Other savings deposits (excluding MMDAs) $40,729
    Total time deposits $87,031
    Total time and savings deposits $198,239
    Noninterest-bearing deposits $70,068
    Interest-bearing deposits $198,239
    Retail deposits $256,073
    IRAs and Keogh plan accounts $9,444
    Brokered deposits $0
    Deposits held in foreign offices $0

    Assets

    Asset Value (in 000's)
    Total Assets $305,455
    Cash & Balances due from depository institutions $14,183
    Interest-bearing balances $7,121
    Total securities $59,887
    Federal funds sold & reverse repurchase $0
    Net loans and leases $221,725
    Loan and leases loss allowance $1,630
    Trading account assets $0
    Bank premises and fixed assets $6,507
    Other real estate owned $670
    Goodwill and other intangibles $0
    All other assets $2,483

    Liabilities

    Liabilities Value (in 000's)
    Total liabilities and capital $305,455
    Total Liabilities $269,984
    Total deposits $268,307
    Interest-bearing deposits $198,239
    Deposits held in domestic offices $268,307
    % insured (estimated) $82
    Federal funds purchased and repurchase agreements $954
    Trading liabilities $0
    Other borrowed funds $0
    Subordinated debt $0
    All other liabilities $723

    Issued Loan Types

    Type Value (in 000's)
    Net loans and leases $221,725
    Loan and leases loss allowance $1,630
    Total loans and leases (domestic) $223,355
    All real estate loans $180,468
    Real estate loans in domestic offices $180,468
    Construction and development loans $11,700
    Residential 1-4 family construction $5,320
    Other construction, all land development and other land $6,380
    Loans secured by nonfarm nonresidential properties $64,776
    Nonfarm nonresidential secured by owner-occupied properties $43,177
    Commercial real estate & other non-farm, non-residential $21,599
    Multifamily residential real estate $658
    1-4 family residential loans $93,386
    Farmland loans $9,948
    Loans held in foreign offices $0
    Farm loans $332
    Commercial and industrial loans $26,861
    To non-U.S. addressees $0
    Loans to individuals $15,593
    Credit card loans $856
    Related Plans $22
    Consumer Auto Loans $3,831
    Other loans to individuals $10,884
    All other loans & leases $101
    Loans to foreign governments and official institutions $0
    Other loans $101
    Loans to depository institutions and acceptances of other banks $0
    Loans not secured by real estate $3,338
    Loans secured by real estate to non-U.S. addressees $0
    Restructured Loans & leases $32
    Non 1-4 family restructured loans & leases $32
    Total loans and leases (foreign) $0

    Southern Heritage Bank had $221,725,000 of loans outstanding in 2019. $180,468,000 of loans were in real estate loans. $11,700,000 of loans were in development loans. $658,000 of loans were in multifamily mortgage loans. $93,386,000 of loans were in 1-4 family mortgage loans. $332,000 of loans were in farm loans. $856,000 of loans were in credit card loans. $3,831,000 of loans were in the auto loan category.

    Small Business Loans

    Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
    Nonfarm, nonresidential loans - <$1MM 208 $35,372 $170,058
    Nonfarm, nonresidential loans - <$100k 88 $3,761 $42,739
    Nonfarm, nonresidential loans - $100-250k 64 $9,777 $152,766
    Nonfarm, nonresidential loans - $250k-1MM 56 $21,834 $389,893
    Commercial & Industrial, US addressed loans - <$1MM 400 $25,188 $62,970
    Commercial & Industrial, US addressed loans - <$100k 336 $8,241 $24,527
    Commercial & Industrial, US addressed loans - $100-250k 42 $5,380 $128,095
    Commercial & Industrial, US addressed loans - $250k-1MM 22 $11,567 $525,773
    Farmland loans - <$1MM 112 $9,948 $88,821
    Farmland loans - <$100k 112 $9,948 $88,821
    Agriculture operations loans - <$1MM 7 $332 $47,429
    Agriculture operations loans - <$100k 7 $332 $47,429